Bank Alfalah partners with TerraPay to launch remittance services in Pakistan
KARACHI: Bank Alfalah and TerraPay, a global payments infrastructure company, have announced a partnership for offering remittance payment services in Pakistan. Through this partnership, overseas Pakistanis will be able to use TerraPay’s partners’ network to instantly deposit money to any bank account in Pakistan. Bank Alfalah has remittances’ inflows of over one billion US dollars. Speaking on the launch of the partnership, Bank Alfalah’s Group Head for Corporate, Investment Banking & International Business Group Bilal Asghar said that partnership with TerraPay will enhance the Bank’s global coverage and make international remittances more convenient for [all] bank account holders and unbanked customers in Pakistan. Pakistan is one of the most important remittance corridors in the world and we are very excited to partner with Bank Alfalah”.
Source:Pakistan Today
August 06, 2020 07:07 UTC
Pakistan pays back $1b Saudi loan
In October 2018, Saudi Arabia had agreed to provide $6.2 billion worth of financial package to Pakistan for three years. The Saudi oil facility was already running into trouble. Sources said that the Chinese government has provided $1 billion loan to Pakistan to retain the official gross foreign currency reserves at their current levels. The United Arab Emirates (UAE) had also announced a $6.2 billion package for Pakistan in December 2018, including $3.2 billion oil facility. But later on, the UAE reduced its financial assistance to $2 billion and also shelved the plan to give $3.2 billion oil facility on deferred payments.
Source:The Express Tribune
August 06, 2020 03:22 UTC
'Sanchez has signed three-year deal with Inter'
Inter Milan have agreed to sign Alexis Sanchez from Manchester United on a permanent three-year deal, the Serie A club's CEO Giuseppe Marotta said on Wednesday. Sanchez joined Inter on loan at the start of the 2019-20 season following a disappointing spell at United where he scored just five goals in 45 matches. "The player is completely ours and we have a three-year contract with him. Speaking after United's Europa League win over LASK on Wednesday, manager Ole Gunnar Solskjaer confirmed that Sanchez was leaving the Old Trafford club for Italy. Alexis has had a good time over there (on loan at Inter) and he's a good player, so we wish him all the best," he told BT Sport.
Source:The Express Tribune
August 05, 2020 22:30 UTC
Civil Service Reform
Ignoring the youth bulgeOne of the election campaign promises made by the PTI was to find jobs for the youth bulge. After the epidemic, the economy tanked, and not only does the youth not get jobs, but their parents have been losing theirs. The government should remember that one of its main economic functions is to provide employment. The pandemic, the youth bulge, and the government’s own mandate make it imperative that it should not abolish jobs; rather, it should find ways of creating them. The soft spot the Prime Minister has for the construction industry seem to have more to do with its effective lobbying than the hopes it gives him.
Source:Pakistan Today
August 05, 2020 18:00 UTC
Zahid Hafeez replaces Aisha Farooqui as FO spokesperson
ISLAMABAD: The federal government on Wednesday appointed Zahid Hafeez as the new spokesman for Foreign Office (FO). He will replace Aisha Farooqui and a notification for his appointment has been issued. Hafeez has served in the FO for 26 years and remained at the post of director general South Asia and SAARC before being handed over the new responsibility. Moreover, he served at the Pakistani Embassy in Washington and the High Commission in London. It is pertinent to mention here that the Ministry of Foreign Affairs on 19 December 2019 announced the appointment of Aisha as the new spokesperson of FO.
Source:Pakistan Today
August 05, 2020 17:06 UTC
Blast in JI rally injures five in Karachi
KARACHI: At least five people were injured in an explosion near Bait-ul-Mukarrum Masjid here in Gulshan-e-Iqbal area where Jamaat-e-Islami (JI) activists had gathered for a Kashmir rally on Wednesday. Police and rescue teams rushed at the scene and shifted the injured persons to the hospital. According to a senior police officer, some unidentified motorcyclists hurled grenades at the participants of JI’s Kashmir rally. The Bomb Disposal Squad (BDS) officials have been called at the scene to ascertain the genre of the explosion. Karachi JI Emir Hafiz Naeem-ur-Rehman strongly condemned the explosion and announced to tell about the next strategy after the conclusion of the Kashmir rally.
Source:Pakistan Today
August 05, 2020 16:41 UTC
Abbasi pleads not guilty after indictment for misusing authority
KARACHI: An accountability court in Karachi on Wednesday indicted former prime minister Shahid Khaqan Abbasi in a reference concerning illegal appointments to which he, along with the other accused, pleaded not guilty. The people are united, but unfortunately, the government did not extend the hand of solidarity towards the opposition,” said Abbasi. About the continuing issue of power outages in Karachi, Abbasi said that there was no excuse for load-shedding in the port city. How those who cannot manage their ministry will manage the Sindh government?” he posed the questions. Abbasi, however, said the doors for dialogue would never be closed in politics, but added that he mistrusts the Pakistan Tehreek-e-Insaf (PTI) government’s ministers.
Source:Pakistan Today
August 05, 2020 16:31 UTC
Gold price continues to rise, hits new peak at Rs128,700 per tola
In the int'l market, gold price breached its historic resistance of $2,000 an ounceKARACHI: Gold prices continue to surge in the local market based on the demand backed rally in international markets. Likewise, the price of 10-gram increased by Rs4,116 to Rs110,340 in the local market. Gold prices in Pakistan continue to breach all peaks as international investors pump money into buying gold due to the Covid-induced uncertainty. While there is an increase in demand for gold in the international market, there has been little to no buying in the local market. In the international market, gold surged to a record high on Wednesday owing to a weakening dollar and falling returns on US bonds.
Source:Pakistan Today
August 05, 2020 16:07 UTC
ECNEC approves $6.8bn for Pakistan Railways’ ML-1 Project
The Ministry of Railways would constitute a project steering committee for the effective supervision and implementation of the project, the statement added. The committee also approved the Pakistan Single Window (PSW) project with the Federal Board of Revenue (FBR) being the sponsoring agency for the project. The total cost of the project has been estimated at Rs11,074.16 million including Rs9,020 million Foreign Exchange Component (FEC). The project was approved by ECNEC on August 29, 2019, and would use cattle based biomethane as fuel technology. ECNEC also approved a PhD Scholarship Programme under the US-Pakistan Knowledge Corridor (phase-1) at a revised cost of Rs25,226.274 million including an FEC of Rs24,303.543 million.
Source:Pakistan Today
August 05, 2020 15:45 UTC
Police register case against father-daughter duo for throwing newborn from building
KARACHI: Police in Karachi have registered a case against an unmarried woman and her father for allegedly throwing the woman’s newborn baby girl in the street from the second floor of a building in a bid to kill her soon after her birth. Baloch Colony police have taken the accused mother and her father into custody. After throwing the newborn from the building, the woman tried to flee the scene along with her father. He said the newborn was thrown from a double-storey building and was in a critical condition when the ambulance service reached there to pick her. He said the newborn was taken to Jinnah Postgraduate Medical Centre for treatment where doctors were able to save her.
Source:Pakistan Today
August 05, 2020 14:26 UTC
Sindh govt will give Rs20b in cash transfers to alleviate hardships of pandemic-hit people
KARACHI: The Sindh government will start cash transfer from next month to people badly hit by the coronavirus pandemic for their economic welfare, informed Sindh Chief Secretary Syed Mumtaz Ali Shah on Tuesday. According to a statement released on Tuesday, the chief secretary said, “The Sindh government has earmarked Rs34 billion in the annual budget for fiscal year 2020-21 to help citizens affected by the coronavirus pandemic”. The meeting was chaired by the chief secretary and attended by CM’s Special Assistant Haris Gazdar, Finance Secretary Syed Hassan Naqvi, Livestock and Fisheries Secretary Aijaz Ahmed Mahesar and other officials. Some Rs20 billion is proposed for cash transfers to those affected by coronavirus under the Sindh Peoples Support Programme through the Social Protection Strategic Unit (SPSU) and Social welfare department (SWD),” the CS said. The chief secretary also directed the authorities to collect all relevant data from the National Database and Registration Authority (Nadra), Benazir Income Support Programme (BISP) and the census department for sending money under Sindh Peoples Support Programme.
Source:Pakistan Today
August 05, 2020 11:48 UTC
PIA reaches agreement with Portuguese airline for resumption of flight operations to UK
KARACHI: The Pakistan International Airlines (PIA) has completed alternative arrangements to resume flight operations to the United Kingdom. PIA Spokesman Abdullah Khan said that the PIA slot and call sign would be used in the UK operation. PIA will launch its operation in UK on August 14, after Flight PK 9702 PK will leave Manchester for Islamabad with more than 250 passengers. He informed that other airlines have raised fares dramatically following the suspension of PIA flights. Fares are expected to return to normal after PIA flights resume.
Source:Pakistan Today
August 05, 2020 11:26 UTC
Kashmir Siege Day: Celebs demand justice for the people of IIOJK
Thus, the day is being observed as the Kashmir Siege Day (Youm-e-Istehsal) to denounce Indian prime minister's brazen attempts at usurping the region. #KashmiriLivesMatter — VEENA MALIK (@iVeenaKhan) August 5, 2020She continued to add relentlessly, "Modi is involved in Muslim Genocide in Kashmir for his RSS supporters. "#KashmiriLivesMatter — VEENA MALIK (@iVeenaKhan) August 5, 2020Often insightful, actor Armeena Khan also took to Twitter and shared photos of how the day was being observed across the world. Pictures from Newyork and London #Kashmir #KashmiriLivesMatter #forhumanity"Friends of Kashmir standing in solidarity against the oppression, no human deserves to live in fear and chains. Pictures from Newyork and London #Kashmir #KashmiriLivesMatter #forhumanity pic.twitter.com/DrRS2XvfUH — Armeena 🦋 (@ArmeenaRK) August 5, 2020Whereas cricketer Shahid Afridi shared a post with the hashtag #IAmKashmirAmbassador.
Source:The Express Tribune
August 05, 2020 11:03 UTC
Silkbank Ltd, SCB Pakistan Ltd appoint new CEOs
KARACHI: The Board of Directors of Silkbank has appointed Shahram Raza Bakhtiari as the new President and CEO of the Bank, the bank disclosed in a filing to Pakistan Stock Exchange on Wednesday. The filed notification also mentions that Bakhtiari who had been leading the Retail and Consumer Banking at Silkbank until now would replace Azmat Tarin. The Bank further said that Bakhtiari appointment is subject to approval from the State Bank of Pakistan and compliance with all applicable laws, rules and regulations. In other news, Rehan Shaikh has joined Standard Chartered Bank Pakistan Limited as Chief Executive. SCB confirmed on Wednesday that Rehan Shaikh has joined the bank in Pakistan as the new CEO and his appointment is being announced post receiving all regulatory approvals.
Source:Pakistan Today
August 05, 2020 11:03 UTC
Ayyan Ali releases her debut album
Former Pakistani supermodel-turned-singer Ayyan Ali has just released her first full length music album titled Nothing Like Everything, with a total of 11 tracks that apparently took her half a decade to make. Official Animated Videos and music videos and much more will be out soon, guys! Friends there u go presenting u my very first album “Nothing Like Everything” that I started 5 years ago is finally released. Official Animated Videos & Official Music videos & & & much more will be out soon guys!!! Youtube: https://t.co/xGM88XACdx pic.twitter.com/izSdw8EYnj — Ayyan (@AYYANWORLD) August 3, 2020Earlier this year, the starlet resurfaced on social media out of the blue.
Source:The Express Tribune
August 05, 2020 07:30 UTC